Rectify the following errors: 1. Sales returns book is overcast by Rs

1.	Rectify the following errors: 1. Sales returns book is overcast by Rs. 1,000. 2. Purchases book is undercast by Rs. 2,000. 3. Purchase returns book is overcast by Rs. 500.
Answer» 1. Sales returns account should be credited with Rs. 1,000. 2. Purchases account should be debited with Rs. 2,000. 3. Purchase returns account should be debited with Rs. 500.

Rectify the following errors: 1. Sales returns book is overcast by Rs. 1,000. 2. Purchases book is undercast by Rs. 2,000. 3. Purchase returns book is overcast by Rs. 500.

Answer»

1. Sales returns account should be credited with Rs. 1,000.

2. Purchases account should be debited with Rs. 2,000.

3. Purchase returns account should be debited with Rs. 500.

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Rectify the following errors: 1. Sales returns book is overcast by Rs. 1,000. 2. Purchases book is undercast by Rs. 2,000. 3. Purchase returns book is overcast by Rs. 500.

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